How Airdrops work ?

Understanding how Airdrops work

The objective of this article is to understand what airdrops are and their usefulness in the field of cryptocurrencies. Have a good reading!

Airdrop, What the f*** is this !?

This is a technique that is not well known to the public and makes it possible to earn money through the respective tokens at ICO’s, which will be distributed to contributors at the end of the fundraising campaign. The contributors in question represent anyone agreeing to advertise for advertisers who want to form a community through social networks. When companies want to create a cryptocurrency, they must commit financial resources to communicate. As you know, many companies are unable to allocate sufficient resources to finance advertising campaigns. Airdrop is a complementary way for ICOs to enable companies to offer themselves a beautiful communication campaign at a low cost.

This exchange is carried out through a set of actions that contributors carry out through social networks. These actions can be as follows

Enjoy publications

Share publications

Register on websites

Responding to forms

Comment on publications, on forums etc.

Snapshot: photograph of your wallet at a time T determining the number of cryptocurrencies distributed according to the cryptos you already have.

You see an interest in this? Absolutely, this technique offers quality targeting to advertisers, but above all it allows you to have a large active community for the following reasons:

The more actions you perform, the more tokens will be distributed to you

By getting free tokens, you will share the plan with your friends and family.

If people register under your recommendations, you will be more rewarded

You see an interest? Absolutely, this technique offers quality targeting to advertisers.

Although there are many ways to participate in AIRDROPS, it is generally necessary to own an ERC20 wallet and register on the Airdrop site in question.

The wallet will allow you to transfer and store your cryptocurrency in a secure way.

To understand the principle and learn how to create an ERC 20 Wallet, click here

The 9 commandments to participate in the Airdrops

1) A new email address dedicated only to Airdrops you will create

This is one of the most important rule to follow in the cryptocurrency world. Using your home address when registering may make your inbox unusable due to the many spam messages you will receive. By respecting this rule, you will avoid this disappointment.

2) Specific accounts on social networks you will use

This time, it is not your news feed that you will pollute, but the one of your friends that are likely to delete you when you have shared too many publications.

3) A Telegram account you will use

It is well known that it is essential to have a Telegram account to participate in the Airdrops. Similar to Messenger, or Whatsapp, this grouped and encrypted messaging system offers the best in the functionalities sought by advertisers in terms of message security and visibility, which ensures a good animation of the community.

4) A monitoring method you will set up

Doing so will allow you to find your way around the many Airdrops in which you have participated. Indeed, the many spam messages you will receive will not allow you to have a summary of the Airdrops that have reached their due date. For this, an Excel dashboard will remain the ideal solution to organize yourself.

5) An ERC20 Wallet you will create

It is essential to have an ERC20 account when you want to invest in cryptos. Having such an account will allow you to participate in all Airdrops, then to retrieve and secure the distributed tokens and finally resell them in a timely manner.

6) For nothing in the world will you give away your private key

The private key has the same use as a car key. If you lose it, you remain the owner, but you can no longer use it. Many users confuse the private key with the ERC 20 address. Indeed, the private key allows you to secure your wallet as long as you keep the private key secret!

The ERC20 address is a public key that allows you to receive and send cryptos. It represents in summary the RIB of a checkbook

It is represented as follows: 0x followed by 38 numbers and letters

A private key is a string of 64 characters from 0 to 9 and from A to F and always begins with a 5, and represents the signature you would make on a cheque to make an official payment.

Example: 5HpHagT65TZzG1PH3PH3CSu63k8DbpvD8s5ip4nEB3kEuEZRcgSqb

7) Never a public key of an exchange platform will you give

If you unfortunately give the public key to an exchange platform like Binance or CoinBase by registering in an Airdrop, you will never receive the tokens distributed because of incompatibility. The only key to give is the public key of your ERC20 wallet.

8) Your identity you will preserve

Sometimes Airdrops ask users to provide identification. You don’t have to worry because your ID will fill a document called the KYC (Know your customer). This prevents abuse in terms of cheating or money laundering. Nevertheless, I advise you not to give your identity to all Airdrops, but only to those you trust.

9) Cheating you will avoid

I understand that you may be tempted to participate in an Airdrop several times to receive more cryptos, but you are exposed to more or less serious risks if a person realizes what you are doing.

This article is coming to an end, I hope I have sufficiently demystified the complex subject of Airdops to make people understand how they work, what is at stake and how to participate. If you enjoyed this article, feel free to share it or leave a comment to let us know what you think. In the meantime, I look forward to see you in the next article ?

Passionate about digital technologies and thanks to my experiences as advisor in the crypto sector, my goal is to popularize this fascinating but nevertheless vague world to the general public as simply as possible